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- Climb's M&A Weekly: Salesforce, Vista, and EQT all feature
Climb's M&A Weekly: Salesforce, Vista, and EQT all feature
Salesforce makes another acquistion and Vista buys Acumatica from EQT
Nick @ Climb
June 01, 2025
Welcome back to the Climb Advisors weekly newsletter with five deals from across the B2B tech landscape.
Climb Advisors focuses on sell-side advisory for B2B Software and services companies generating $5m-$15m in revenue. We also advise on credit solutions for companies of the same profile & in select cases engage in retained buy-side processes for quality buyers. We love to talk markets and make introductions - please don’t hesitate to reach out if you’re a founder or investor looking to transact.
Salesforce acquires Informatica, an AI-powered cloud data management platform
Overview: Salesforce purchases Informatica in an all cash deal valued at ~$8 billion, or $25 per share. Salesforce’s AI strategy will look to integrate Informatica’s suite of AI solutions. Salesforce will integrate Informatica’s data cataloging, privacy, and governance solutions with Agentforce, its new AI agent platform. Read more here.
Climb Comment: Annualizing Informatica’s $125m in Q1 adj. EBITDA, Salesforce paid 16x 2025 adj. EBITDA. Informatica’s share price has jumped ~28% following news of the deal. This move is a part of Salesforce’s broader AI expansion strategy, with Salesforce making three acquisitions since 2018 to drive expansion. Informatica’s solutions will work with Salesforce’s DataCloud, MuleSoft, and Tableau. Informatica provides data management tools, which are needed for agentic AI, but is very similar to what MuleSoft provides, which Salesforce acquired in 2018. Figuring out how to integrate Informatica with MuleSoft will be critical for this deal to add value.
Vista Equity Partners acquires Acumatica
Overview: Vista purchases Acumatica, a provider of cloud ERP software for small and mid-size businesses, from EQT. Acumatica’s cloud-native ERP system enables businesses to digitally manage and automate systems like payroll and customer relationship management in a single platform. Vista plans to help Acumatica drive its AI-first product strategy. Read more here.
Climb Comment: The deal is rumored to value Acumatica at $2 billion, with EQT generating a reported 5x MOIC with the sale. This deal comes at a time when ERP systems are transitioning to cloud-native platforms that can offer real time data and variables integrated into the system. Acumatica’s system is designed for sectors like manufacturing, distribution, and construction. This new cloud-based software is streamlining workflows in the back office of companies.
BetaNXT, backed by a couple of PE firms, buys Delta Data
Overview: BetaNXT, a provider of wealth management technology solutions acquires Delta Data, a provider of investment fund solutions. Delta Data will expand BetaNXT’s solutions for both wealth and asset managers. Delta Data provides operational solutions for fund distributors, asset managers, and transfer agents, streamlining transaction processing and data management. Read more here.
Climb Comment: BetaNXT was launched in 2022 as a carve out of the post trade processing firm, Maxit, and some of the capabilities of the London Stock Exchange Group. The company was launched to build an end-to-end wealth management solution for advisors. BetaNXT is backed by Clearlake Capital and Motive Partners and the two funds previously backed the acquisition of Mediant Communications. With this acquisition, BetaNXT plans to fully integrate all of Delta Data’s solutions with its DataXChange platform, which simplifies the transfer of data between wealth management firms and its clients.
Coalesce Capital makes majority investment in DAS Health Ventures
Overview: Coalesce Capital, a PE fund that invests in human capital-driven and technology-enabled services companies, acquires a majority stake in DAS Health Ventures, a provider of healthcare IT solutions. DAS Health provides IT, cybersecurity, revenue, and business solutions to healthcare organizations. Sheridan Capital will retain minority ownership in the deal. Read more here.
Climb Comment: Sheridan Capital partnered with DAS Health in 2021 and drove client growth and expanded the number of solutions DAS offered. Coalesce’s investment will be more geared towards technology, finding top talent, and strategic M&A. Coalesce has a portfolio of only four companies, reflecting its disciplined investing approach and high conviction regarding DAS Health.
Energize Capital partners with Nira Energy
Overview: Energize Capital, a climate focused investment firm, invests in Nira Energy, a transmission automation software company. The partnership is focused on scaling Nira’s transmission capabilities to meet rising operational needs in the industry. Nira was founded in 2021 and is used by over 100 solar, storage, and data center developers. Read more here.
Climb Comment: Most of the United States power grid was built in the 1960s and 70s, with today’s grid being largely ill-equipped to handle the rapidly growing energy needs of the country. The data center buildout is amplifying the need for energy but without the infrastructure able to handle this new demand, a transmission bottleneck is the result. Nira is trying to simplify transmission planning by providing insights like grid costs and constraints. The company currently offers two tools: the first being a map allowing customers to view transmission opportunities and costs, and the second being a tool that simulates how projects are moving across the transmission timeline.
Article of the week
This week we’re sharing an investor letter from Hosking Partners. The letter goes into detail about investing throughout the capital cycle and it gives a unique perspective on what made Buffett such a great investor.
Thanks for following along & hope you found something useful or interesting. Please don’t hesitate to reach out if you’re considering a sale this year - we’re always glad to chat & share perspective.
All the best,
Nick